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STEP Journal: Issue 5, 2023
Welcome to Issue 5 of the STEP Journal, in which we celebrate the winners of the STEP Private Clients Awards. We shine a spotlight on the Asia-Pacific region, exploring the new residency tests in Australia, New Zealand’s incorporated societies law, and the recent Singapore decision of La Dolce Vita Fine Dining Company Limited v Zhang Lan and Others. In this issue, we also focus on compliance and regulation from England and Wales to the Crown Dependencies and France.
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Capacity to change
Foreword: The Asia Pacific region is the focus for this issue of the STEP Journal.
Who are STEP’s Student Liaison Officers?
Jenny Teasdale discusses STEP’s support of its volunteers through workshops and networking
Keeping score
The STEP Digital Legacy Scorecard has been launched
Time to get a GRP
Ben Bell introduces the new STEP Global Representative Power framework for global powers of attorney
The digital afterlife
Helen Bradford-Swire examines the personal side of digital assets and outlines how practitioners can help clients to safeguard and pass on their digital memories
Night of nights
STEP announced the winners of its 2023/24 Private Client Awards during a ceremony in London on 21 September
In or out?
Jim O’Donnell assesses what advisors can learn from the new Australian Taxation Office ruling on the residency tests for individuals
Where there’s no will, there’s still a way
Lisa Monaco examines the recently changed landscape of intestacy laws in Western Australia
A century in the making
Daniel McLaughlin describes how New Zealand’s law for incorporated societies is set to change
Cross-border strategy
Sean Wong provides cross-border wealth management tips for high-net-worth individuals in China
Life lessons
Gary Wang assesses global insurance options through a Chinese lens
Lifting the veil of trust
Rachel Yao outlines the factors that undermined a trust’s resilience in a recent Singapore case
Bricks, mortar and IHT
Lee Sleight, Nick Vaughan and Tom McElligott explore UK Inheritance tax implications for overseas owners of UK residential property
The latest model
Rachel Steeden provides a comparative review of the traditional charitable trust and donor-advised fund models of philanthropy in the UK
Shaky ground
James Gribbin observes issues with the EU Succession Regulation that may lead to uncertainty in cross-border estate planning
Six sense
Rachel Gardiner describes regime changes for directors in Guernsey and Jersey
It’s a fair COP
Dion Laycock examines updates to HMRC’s Code of Practice 9 on tax fraud investigations
A capital idea
Appropriating assets from an estate can save capital gains tax in the UK, writes Katie Buckley
House or home?
François Mouniélou explains the new obligation to register use of residential property in France
Breaking the ERI silence
Michael Edwards explores how offshore investments can increase the complexity of tax reporting for trusts in the UK
To the bel paese
Luigi Belluzzo highlights the benefits of Italy’s new guidelines to estate planning, relocation and investment
Know your obligations
Katharina Byrne reminds practitioners of their Professional Conduct in Relation to Taxation obligations when advising on UK tax
Carry on, regardless
Patrick Harney and Christopher Eames outline tax- and estate-planning considerations for carried interest in the UK
Banking on Goodfellow
Charlie Fowler and Cameron Crees ask if it is time to refresh how testamentary capacity is approached in England and Wales
Real estate planning
Betty Andrikopoulos and Paul Hunter assess the trend of integrating US real estate into global family structures
When is a child not a child?
Sandra Duerden and Grace Cummings examine the legal implications of properly defining children as beneficiaries in wills and trust deeds, with an emphasis on Guernsey
The crypto succession conundrum
Richard Marshall explores difficulties in providing succession-planning advice to clients holding crypto-assets and assesses the solutions available
Member Q&A - Assad Abdullatiff TEP
We chat to Assad Abdullatiff TEP, co-founder and Managing Director of Axis Fiduciary in Mauritius, about his career, his involvement on various STEP committees and the value of active engagement within the Society
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